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DTRIC selects DRC’s DecisionMaker Extended Lines Policy Administration System
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HONOLULU, HI – July 25, 2007
DTRIC Insurance Company, a Hawaii Property & Casualty Insurance Company has selected DRC’s DecisionMaker™ Extended Lines Policy Administration System to process its newly expanded commercial insurance lines of business. DTRIC currently offers personal auto and home insurance as well as workers compensation benefits and limited commercial lines in Hawaii.
DTRIC will broaden their commercial lines offerings throughout the state of Hawaii this year. “With our mid-term change in plans it is exciting that DRC’s Extended Lines product will allow us to place our new commercial lines business into production with significant efficiency gains, at about the same time as we write our first contract.” said Bill Marr, COO of DTRIC. “Speed to market is critical when new products are tested in this marketplace and DRC will deliver that speed. We are delighted to work with such an experienced local partner for these very important product offerings” added George Lucas, V.P. of Technology for DTRIC. DRC is also based in Honolulu, Hawaii.
The functionality of DecisionMaker Extended Lines is so flexible that insurance companies can have a new system in production in just a few months. “By leveraging our rating technology and existing systems we are able to help our customers launch new lines of business quickly, affordably and with minimal risk” said Karen Yamamoto, DRC’s Vice President of Product Development. “Once we have the requisite data sets and rates our clients’ products can be in production in less than a month” added Yamamoto.
DRC’s DecisionMaker Extended Lines Policy Administration System extends DRC’s DecisionMaker Policy Administration System that already supports integrated and/or stand alone modules such as quoting, rating, complete policy issuance, claims, billing to Stat reporting. Because it is already integrated with DRC’s DecisionMaker Suite, companies can affordably launch a new business in weeks as opposed to months. “It doesn’t matter what channel DRC’s clients are servicing or what new line(s) of business they want to offer. Extended Lines will integrate with a mature, robust and scalable policy administration system while simultaneously allowing the client to face the realities of their business without worrying about expensive programming initiatives that will delay the speed to market. This will create competitive advantages for DRC’s Extended Lines customers ” said Stephen Korow, DRC’s Vice President of Technology.
About DTRIC
DTRIC was established in 1992 at a time when most insurers were reluctant to offer automobile coverage in Hawaii due to rising claims costs and strict regulations created by the state’s no-fault law. With creative programs and solutions, DTRIC stepped in to replace a major insurer who canceled the group automobile program for the state’s largest public employee union.
In 1994, DTRIC expanded into commercial insurance lines in response to a severe downturn in the availability of general casualty and workers compensation insurance in Hawaii. DTRIC provides workers compensation coverage to many Hawaii businesses and works closely with clients on operational and safety issues. DTRIC has been instrumental in bringing stability to the local marketplace and reducing insurance costs.
For more information about DTRIC Insurance visit www.dtric.com .
About Decision Research Corporation
Decision Research Corporation (DRC) is a software development and information technology company. Since 1971, DRC has enjoyed a solid reputation as a proven and trusted provider of software solutions to the Property & Casualty insurance industry. DRC specializes in providing end-to-end functionality to our insurance company and MGA clients, whether it be an enterprise-wide policy administration system or standalone components for functional areas such as quote, rating, billing, or claims. DRC’s flagship product is DecisionMaker™, a web-based, fully integrated suite of insurance applications which provides insurers and MGAs with a complete quote-to-claims system; offering accessibility when and where needed, from the home office to the agent.
During its thirty five year track record of success, DRC has developed a breadth and depth of expertise in both technology and the insurance process, affording their insurance industry clients the best in technologies, services and solutions. DRC is committed to continual enhancement of our products and services to allow clients to derive even greater value from their DRC solution.
For more information, contact:
Rick Young
Phone: (808) 949-8316 ext. 120
Email: info@decisionresearch.com
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